Project on Access to Financing for Micro Small and Medium Enterprises

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Project ID: P163015

Project on Access to Financing for Micro Small and Medium Enterprises

Project Area

Business

MANAGEMENT UNIT

Special Projects Management Unit

Date of entry into force

15/02/2018

Closing Date

31/01/2023

State

Closed

Total Value

$25,000,000.00 (USD)

2.425.000.000,00 CVE

Initial Value

$15,000,000.00 (USD)

1.455.000.000,00 CVE

Additional Value

$10,000,000.00 (USD)

970.000.000,00 CVE

100%

% Execution

Objetive

The Access to Finance for Micro, Small and Medium Enterprises project aims to increase access to finance for micro, small, and medium enterprises by enabling increased private sector investment.

Description

This project is aligned with the growth agenda of the Government of Cabo Verde (GoCV) and supports a key pillar of the national program to support private investment and entrepreneurship. It is in this context that the Government of Cabo Verde has negotiated with the International Development Association (IDA) of the World Bank Group for its financing in the total amount of US$ 15,000,000 (fifteen million US dollars).

Components

Title Purpose Objetive Beneficiaries Amount in USD

Component 1: Partial Credit Guarantee Fund to Improve Financing for Micro, Small, and Medium Enterprises

This component aims to support the creation and operationalization of a Partial Credit Gua

$11,200,000.00 (USD) 1.041.600.000,00 CVE

Component 2: Technical Assistance for MSMEs

Support MSMEs in generating and providing information to financial institutions supportin

$3,100,000.00 (USD) 288.300.000,00 CVE

Component 3: Improving Credit Information Systems

This component aims to support the updating and expansion of coverage anddepth of informat

$500,000.00 (USD) 46.500.000,00 CVE

Component 4: Project Implementation Support

This component has the objective of ensuring the project implementation costs

$200,000.00 (USD) 18.600.000,00 CVE

Indicators

Project Objective Indicators

Increase acess to finance to MSMEs

Unit Baseline Final Target

Guarantees approved for micro and small businesses number 0.00 1800.00

of which part are micro and small enterprises affected by the COVID 19 crisis percentage 0.00 60.00

of which part are women-led companies percentage 0.00 30.00

of which part are micro and small enterprises percentage 0.00 70.00

Adult individuals covered by the credit registry percentage 19.00 22.00

Companies covered by the credit registry number 3205.00 4000.00

Credit to MSMEs guaranteed amount 0.00 35.000.000.00

First MSME borrowers covered by the guarantee scheme number 0.00 250.00

Of which are women-led companies number 0.00 75.00

Co-investments in local companies, according to the approved financial, environmental and sustainability criteria number 0.00 5.00

Project Component Indicators

Component 2: Technical Assistance for MSMEs

Unit Baseline Final Target

Companies supported with technical assistance number 0.00 100.00

of which are women-led companies number 0.00 0.50

Companies satisfied with the technical assistance received under the project percentage 0.00 75.00

Of which are women-led companies percentage 0.00 0.75

Component 3: Improving Credit Information Systems

Unit Baseline Final Target

Depth of credit information index number 6.00 7.00

Component 4: Project Implementation Support

Unit Baseline Final Target

Beneficiaries who feel that the project activities reflect their needs percentage 0.00 75.00

Beneficiary Entities

Small and Medium Businesses

Women

Low-income families

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Objetive

Description

Components​

Indicators

Beneficiary Entities

Components